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364-366 Essex Street, Salem MA 01970

$2,200,000

Estimated $5,386/month Calculator

Multi Family

Total Units: 9

Price Per Unit: $244,444.44

Total Rent: 69600/year

Estimated CAP Rate:

10 Bedrooms

Baths

7033

Total Parking: 4

5,662 (0.13)

364-366 Essex Street contains one (1) 2-Bedroom/1-Bathroom unit, five (5) 1-Bedroom/1-Bathroom units, one (1) 2-Room Studio unit, and two (2) Studio units with 7,033 square feet of gross living area in 9,044 square feet of gross area. The Property is situated upon a 0.13-acre parcel and features four (4) off-street parking spaces. Located in the heart of downtown Salem, 364-366 Essex Street benefits from one of the North Shore's most desirable apartment markets, supported by a diverse employment base, exceptional walkability, and year-round visitor activity. The Landlord is responsible for providing oil powered heat & electric powered hot water to both buildings. The Landlord provides common area electricity to both buildings, as well as unit electric to 364 Essex, while Tenants at 366 Essex pay their own unit electric. The Landlord is responsible for providing city water & sewer to all units. The opportunity exists to acquire a well-maintained asset in a desirable North Shore location.

This home has been viewed 6 times

Last Checked: September 15th, 2026 at 11:18pm (Source: MLS PIN #73561757)

Gross Income: $69,600

Gross Expenses: $56,687

Net Income Calc: $12,913

Water Views

Annual Expenses for 364-366 Essex Street, Salem MA 01970

Total Gross Expenses (Calculated)$56,687/year

APOD AvailableYes

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax21830

Annual Income & Unit Breakdown for 364-366 Essex Street, Salem MA 01970

Total Gross Income (Calculated)$69,600

Unit 1

Rental Income$0

LeaseN

Bedrooms0

Bathrooms1 Full

Floor1

Levels in Unit1

Rent IncludesHeat

Unit 2

Rental Income$0

LeaseN

Bedrooms1

Bathrooms1 Full

Floor1

Levels in Unit1

Rent IncludesHeat

Unit 3

Rental Income$0

LeaseN

Bedrooms0

Bathrooms1 Full

Floor1

Levels in Unit1

Rent IncludesHeat

Unit 4

Rental Income$0

LeaseN

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

Rent IncludesHeat

General Information for 364-366 Essex Street, Salem MA 01970

Listing ID73561757

Property TypeMulti Family / 5+ Family

Price2200000 ($312.81/SqFt)

Style5-9 Family

CitySalem

CountyEssex

Neighborhood(s)Ipswich

Approximate Living Area Total7033

Approximate Lot Size (Acres)0.13

Total Parking4

Garage Parking0

Year Built1850

Year Built SourcePublic Records

Year Built DetailsApproximate

WaterPublic

SewerPublic Sewer

Electric220 Volts

Hot Water

Roof MaterialAsphalt/fiberglass Shingles

BasementFull

Construction Materials

Lot FeaturesGentle Sloping

Foundation Description

Accessible Features

Outdoor Space

ZoningR2

Water ViewsNo

Water Views Features

Waterfront0

Waterfront FeaturesRiver

Terms

Disclosures for 364-366 Essex Street, Salem MA 01970

Lead PaintNone

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsPersonal Belongings.

Financial Data SourceEstimated

Total Gross Expenses By Broker

Total Gross Income By Broker

Total Net Income By Broker

Short Sale / Forclosure (Bank Owned)

Compensation Based On

Financial Information for 364-366 Essex Street, Salem MA 01970

Real Estate Taxes21830

Tax Year2026

Assessed Value$2,006,000

Financial Data SourceEstimated

Total Gross Expenses By Broker

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker

BostonRealEstate.com Gross Income

Total Net Income By Broker

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

Location Information for 364-366 Essex Street, Salem MA 01970

Neighborhood(s)Ipswich

Area AmenitiesWalk/jog Trails

Contact Information for 364-366 Essex Street, Salem MA 01970

Agent

Name: Stephen Girolamo

Office

Name: Horvath & Tremblay

Phone: 781-776-4000

Payment Calculator

, Interest

Property Taxes 1819.17

Principal & Interest 13555.7

HOA Dues

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Horvath & Tremblay

Stephen Girolamo

Agent Phone

Office Phone

(781) 776-4000

Text Agent Call Agent Call Office

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    [description] => 364-366 Essex Street contains one (1) 2-Bedroom/1-Bathroom unit, five (5) 1-Bedroom/1-Bathroom units, one (1) 2-Room Studio unit, and two (2) Studio units with 7,033 square feet of gross living area in 9,044 square feet of gross area. The Property is situated upon a 0.13-acre parcel and features four (4) off-street parking spaces. Located in the heart of downtown Salem, 364-366 Essex Street benefits from one of the North Shore's most desirable apartment markets, supported by a diverse employment base, exceptional walkability, and year-round visitor activity. The Landlord is responsible for providing oil powered heat & electric powered hot water to both buildings. The Landlord provides common area electricity to both buildings, as well as unit electric to 364 Essex, while Tenants at 366 Essex pay their own unit electric. The Landlord is responsible for providing city water & sewer to all units. The opportunity exists to acquire a well-maintained asset in a desirable North Shore location.
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    [unparsed] => 364-366 Essex Street, Salem MA 01970
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EXIT

21 More Photos

Pending

364-366 Essex Street, Salem MA 01970

$2,200,000

Annual Expenses for 364-366 Essex Street, Salem MA 01970

Annual Income & Unit Breakdown for 364-366 Essex Street, Salem MA 01970

General Information for 364-366 Essex Street, Salem MA 01970

Disclosures for 364-366 Essex Street, Salem MA 01970

Financial Information for 364-366 Essex Street, Salem MA 01970

Location Information for 364-366 Essex Street, Salem MA 01970

Contact Information for 364-366 Essex Street, Salem MA 01970

Agent

Office

Payment Calculator

Exclusive Listing Agent

Horvath & Tremblay

Stephen Girolamo